The Online Guide to the Namibian Economy

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The Online Guide to the

Namibian Economy

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Public Enterprises

Namibia has 73 public enterprises defined under the Public Enterprises Governance Act 2019. Of these 20 are classified as commercial public enterprises (following the liquidation of Air Namibia in February 2020), 42 as non-commercial public enterprises, and 11 as financial institutions and extra-budgetary funds. This page provides some basic information on Namibia’s most important commercial public enterprises and financial institutions. Public enterprise CEOs and MDs are generally appointed for terms of five years whilst boards are appointed for three years.

Agricultural Bank of Namibia In its present form the Agricultural Bank of Namibia (“Agribank”) was established in terms of the Agricultural Bank of Namibia Act (Act No.5 of 2003) and is classified as a public enterprise that is a financial institution. Agribank’s mandate is “to advance money to persons or financial intermediaries for the promotion of agriculture and related activities”. Under the Act, Agribank does not pay corporate income tax or dividends and is audited by the Office of the Auditor General. Its board must submit an audited annual report to the Minister of Agriculture within six months of the end of its financial year. Agribank’s financial year runs from 1 April. Its current CEO Dr Raphael Karuaihe took up his post on 10 January 2022.
Agricultural Business Development Agency

The Agricultural Business Development Agency (“Agribusdev”) is a Section 21 company fully owned by the Government and classified as a commercial public enterprise. It was established on 3 November 2011 with the mandate to “manage and supervise the Green Scheme programme in Namibia” but operations commenced only on 15 April 2013. Agribusdev manages a total of eleven Green Scheme farms (Etunda, Hardap, Kalimbeza, Mashare, Musese, Shadi, Shitemo, Sikondo, Ndonga-Linena, Orange River Irrigation Project and Uvhungu-Vhungu) and one Agricultural Technology Centre (ATC) at Rundu. Agribusdev’s financial year runs from 1 April. Its current acting MD is Mr Natanael Amoomo but the agency is being wound up.
Development Bank of Namibia The Development Bank of Namibia (DBN) was established 2003 in terms of the Development Bank of Namibia Act (Act No.8 of 2002) and is classified as a public enterprise that is a financial institution. The DBN’s mandate is “to contribute to the development of Namibia and the socio-economic wellbeing of its citizens”. Under the Act, the DBN does not pay corporate income tax. The DBN’s financial year runs from 1 April. The DBN is rated by Fitch Ratings. The DBN’s CEO was Dr John Steytler who was appointed on 1 September 2023 but resigned on 11 March 2025 to be replaced by John Mbango as acting CEO.
Epangelo Mining Company The Epangelo Mining Company (“government” in Oshwambo) is a (Pty) Limited company created in 2009 with has Government as its sole shareholder and is classified as a commercial public enterprise. Its mandate is “to conduct exploration, mining, mineral processing, trading of minerals and financing of businesses”. Epangelo’s financial year runs from 1 April. Epangelo is a Class D member of the Chamber of Mines of Namibia. Epangelo’s CEO is Mr Eliphas Hawala who has headed the company since its creation.
Meat Corporation of Namibia In its present form, the Meat Corporation of Namibia (“Meatco”) is a company established in terms of the Meat Corporation of Namibia Act (Act No.1 of 2001) and is classified as a commercial public enterprise. Its mandate is “to serve, promote and coordinate the interests of livestock producers in Namibia while striving for the stabilisation of the red meat industry of Namibia”. Meatco’s financial year runs from 1 February. Meatco’s CEO was Mr Mwilima Mushokabanji who was appointed on 1 February 2020 but was not reappointed. Instead Patrick Liebenberg was appointed acting CEO from 1 February 2025. However, shortly after President Nandi-Ndaiwah’s new Cabinet was sworn in, incoming Agriculture Minister Mac Hegari ordered the Meatco board to reinstate Mushokabanji citing a breach of a Cabinet directive.
Mobile Telecommunications Ltd Mobile Telecommunications (MTC) is a Limited company established in 1995 and classified as a commercial public enterprise. It is majority-owned by the Government of Namibia through Namibia Post and Telecommunication Holdings (NPTH) after becoming the first Namibian public enterprise to list on the Namibian Stock Exchange in November 2021. It is regulated by the Communication Regulatory Authority of Namibia (CRAN). MTC’s financial year runs from 1 October. MTC’s CEO is Mr Licky Erastus who was appointed on 8 March 2021.
Namibia Airports Company The Namibia Airports Company (NAC) was established under the Airports Company Act (Act No.25 of 1998) and is a commercial public enterprise mandated to own and operate Namibia’s eight airports: Hosea Kutako International Airport (Windhoek), Eros Airport (Windhoek), Walvis Bay International Airport (Walvis Bay), Andimba Toivo ya Toivo Airport (Ondangwa), Rundu Airport, Katima Mulilo Airport, Keetmanshoop Airport, and Lüderitz Airport. The NAC’s financial year runs from 1 April. The NAC’s CEO is Mr Bisey /Uirab who was appointed on 1 May 2019.
Namib Desert Diamonds Namib Desert Diamonds (“Namdia”) is a (Pty) Ltd company with Government as the sole shareholder created in 2016 and is classified as a commercial public enterprise. Namdia’s mandate is to “serve as a price discovery mechanism for the Government by directly participating in the diamond value chain through trading and distributing its allocation of Namibian rough diamonds”. In terms of the Diamond Sales and Marketing Agreement between Government and De Beers, Namdia is entitled to purchase 15% of Namdeb Holding’s run of mine production per annum from the Namibia Diamond Trading Company. Namdia’s financial year runs from 1 March. Namdia’s CEO was Ms Alisa Amupolo who was appointed on 1 October 2022. However, she was suspended on 10 February 2025 and replaced by acting CEO Ms Lelly Usiku.
Namibia Industrial Development Agency The Namibia Industrial Development Agency (NIDA) is established in terms of the Namibia Industrial Development Agency Act (Act No.16 of 2016) and is classified as a commercial public enterprise. NIDA is an amalgamation of both the Namibia Development Corporation (NDC) and Offshore Development Corporation (ODC) taking both their regulatory as well as operational mandates. The primary function of NIDA is “to actively facilitate and drive industrial development in the country in line with the industrial policy and its Growth at Home implementation strategy towards the achievement of Vision 2030 goal”. NIDA’s acting CEO is Mr Phillip Namundjebo.
Namibia Post Limited Namibia Post Limited (“NamPost”) is a Limited company established in 1992 under the Namibia Post and Telecomunications Act (Act No.17 of 1992) and currently fully owned by the Government through Namibia Post and Telecom Holdings (NPTH) and is classified as a commercial public enterprise. Nampost is mandated “to conduct postal services and supplementary services (the control and management of the Savings Bank)” under a Universal Service Obligation which stipulates that “all consumers have access to basic services at affordable, uniform prices and that the services have a minimum level of quality”. Nampost is regulated by the Communications Regulatory Authority of Namibia (CRAN). Nampost’s financial year runs from 1 October. Nampost’s CEO is Mr Festus Hangula.
Namibia Power Corporation Namibia Power Corporation (“NamPower”) is a company established as a (Pty) Limited company on 1 July 1996 with the Government as sole shareholder and classified as a commercial public enterprise. Under the Electricity Act (Act No.4 of 2007) NamPower’s mandate is “to generate, transmit, distribute, supply and to trade in electricity which includes the importing and exporting of electricity, to fulfil its role in the changing regulatory and market environment”. NamPower is regulated by the Electricity Control Board (ECB). NamPower’s financial year runs from 1 July. NamPower is rated by Fitch Ratings. NamPower’s MD is Mr Kahenge Haulofu who was appointed on 23 July 2015.
Namibia National Reinsurance Corporation The Namibia National Reinsurance Corporation (“NamibRe”) was established under the Namibia National Reinsurance Corporation Act (Act No.22 of 1998) and is classified as a commercial public enterprise that is a financial institution. Its creation was seen as necessary to minimise the placement of insurance and reinsurance outside Namibia which was controversial at the time. NamibRe’s financial year runs from 1 April. NamibRe is rated by GCR and Moody’s. NamibRe’s CEO is Ms Patty Karuaihe-Martin who was appointed on 1 October 2014.
Namibia Wildlife Resorts Namibia Wildlife Resorts (NWR) was established under the Namibia Wildlife Resorts Company Act (Act No.3 of 1998) and is classified as a commercial public enterprise. NWR owns and operates tourism facilities in prime sites within protected areas of Namibia. NWR’s financial year runs from 1 November. NWR’s CEO is Dr Matthias Ngwangwama who was appointed on 1 April 2020.
Namibian Ports Authority The Namibian Ports Authority (“NamPort”) owns and operates Namibia’s two ports at Walvis Bay and Lüderitz as set out in the Namibian Ports Authority Act (Act No.2 of 1994). Namport’s financial year runs from 1 April. Namport is rated by Fitch Ratings. Namport’s CEO is Mr Andrew Kanime who was appointed on 1 November 2020.
Namibia Water Corporation The Namibia Water Corporation (“Namwater”) was established under the Namibia Water Corporation Act (Act No.22 of 1997) to provide bulk water supply. The corporation has the power to “determine and levy, in consultation with the Minister, tariffs on a full cost-recovery basis for water supplied”. Bulk water prices are determined by Cabinet but will at some stage in the future be set by the Water Regulator of Namibia. Namwater’s financial year runs from 1 April. Namwater is rated by Fitch Ratings. Namwater’s CEO is Mr Abraham Nehemia who was appointed on 3 January 2019.
National Fishing Corporation of Namibia The National Fishing Corporation of Namibia (“Fishcor”) was established to allow the Namibian State to actively participate in Namibia’s fishing industry as set out in the National Fishing Corporation of Namibia Act (Act No.28 of 1991) and is classified as a commercial public enterprise. Fishcor’s financial year runs from 1 October. Fishcor’s CEO is Mr Alex Gawanab who was appointed on 10 January 2022.
National Petroleum Corporation The National Petroleum Corporation (“Namcor”) was established as a (Pty) Limited company with the Government as sole shareholder but its mission of participating in upstream and downstream activities was laid down by the Petroleum (Exploration and Production) Act (Act No.2 of 1991). Namcor is classified as a commercial public enterprise. Namcor’s financial year runs from 1 April. Mr Immanuel Mulunga was suspended as MD on 3 April 2023. From 11 January 2024 Namcor’s interim MD was Mr Ebson Uanguta who was seconded from the Bank of Namibia. Mr Uanguta returned to the Bank of Namibia at the end of March 2025 to be replaced by acting MD Mrs Victoria Sibeya from 1 April.
Roads Authority The Roads Authority (RA) was established under the Roads Authority Act (Act No.17 of 1999) with the mandate to construct and maintain Namibia’s road network. The Act does not require the RA to generate profits or pay corporate income tax or dividends to Government but it does require the RA to submit an Annual Report to the Minister of Transport within six months of the end of its financial year. The RA’s financial year runs from 1 April. The RA’s CEO is Mr Conrad Lutombi who was appointed on 1 October 2013.
Roads Contractor Company The Roads Contractor Company (RCC) was established under the Roads Contractor Company Act (Act No.14 of 1999) to allow the direct participation of the Namibian State in road building and maintenance. The RCC is classified as a commercial public enterprise. The RCC’s financial year runs from 1 April. The RCC currently has no CEO and no website.
Telecom Namibia Limited Telecom Namibia is a limited company established under the Namibia Post and Telecommunications Act (Act No.17 of 1992) and is classified as a commercial public enterprise. It is Namibia’s only integrated ICT provider. It is owned by Namibia Post and Telecommunications Holdings (NPTH) of which Government is the sole shareholder. Telecom’s financial year runs from 1 October. Telecom is rated by Fitch Ratings. Telecom’s CEO is Dr Stanley Shanapinda who was appointed on 1 January 2021.
TransNamib Holdings In its present form, TransNamib was established under the National Transport Services Holding Company Act (Act No.28 of 1998). TransNamib Holdings provides a range of transport and logistics services including bulk freight, containerised services, TNX/OPX, special trains and passenger services. TransNamib’s financial year runs from 1 April. TransNamib’s interim CEO was Mr Webster Gonzo who was appointed on 1 April 2023 until Desmond van Jaarsveld was appointed permanent CEO from 17 April 2024.